Geo NIC

A NIC could serve a new top level domain ".geo"

The hierarchy under that domain could be predefined as <UN LOCODE>.<ISO 3166-2 subdivision>.<ISO 3166-1 alpha-2 country code>.geo

For example: 
nyc.ny.us.geo for New York, USA and
cgn.nw.de.geo for Cologne, Germany.

Airports could be listed under IATA code.airport.geo.

IATA codes and location codes could link conveniently to a map of the region. (e.g. on Google Earth, Global View or similar services, possibly based on user preferences). On the next level businesses could reserve their own homepages. All "www" addresses could be reserved as free redirects to the home page of a city, region or airport.

Service type

One could also register businesses according to service type. A service type identifier could then list all businesses of that type: supermarket.nyc.ny.us.geo would list all known supermarkets in New York (with an option to switch between map and list view).